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January 15, 2024
1 min read

The New AI Venture by Chamath Palihapitiya: A Threat?

Billionaire investor Chamath Palihapitiya has proposed a new business idea that uses artificial intelligence (AI) to transform the software market. Palihapitiya plans to start an incubator called 8090, which will provide businesses with 80% complete versions of enterprise software at a 90% discount using AI and offshoring. This could enable companies to avoid paying subscription fees to software providers. However, fellow billionaire Mark Cuban cautioned Palihapitiya about potential tax implications, suggesting that his approach could result in significant taxes. Palihapitiya has been a vocal advocate for AI and has previously suggested that advancements in the technology could change the venture capital sector.

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